Day opened the interview by reminding investors that gold performed well last year — in fact, it increased 13 percent. For the most part, Day was interested in looking ahead for gold and stated that “the main events for gold are interest rates, inflation and concern about other markets.” He then added, “all of these add up to a positive year for gold.”

While he noted that US Federal Reserve interest rate hikes and inflation have an effect on gold, he also weighed in on bitcoin specifically and how he sees it in relation to gold and gold stocks.

Day stated, “I think bitcoin has had much more of an effect on gold stocks, particularly junior gold stocks, because it is the same kind of investor who is buying junior gold stocks, bitcoin, marijuana — so it has been competition for that.”

He continued on to say, “for gold itself, I think it is very marginal. It’s definitely competition and it’s definitely a negative for gold, but to me it’s very, very slight.”

Day also shared his insights on the price of oil and its chances of reaching the $70-a-barrel mark, why he likes copper and his top three stocks in the junior resource sector.

Watch the interview above for more insight from Day, and click here to view our PDAC 2018 playlist on YouTube. The transcript for this interview will be added shortly.

Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.